HDFC RD Interest Rates

HDFC Bank is India's largest private sector bank and the world's 10th largest bank by market capitalization. Incorporated in 1994, it was a Housing Development Finance Corporation subsidiary in Mumbai. The bank offers several schemes to its customers, including fixed and recurring deposits. A recurring deposit allows people to develop a habit of saving by depositing fixed monthly installments to their RD account, which in turn helps them to earn interest equal to a fixed deposit.

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Here's everything that you need to know about RD in HDFC bank.

HDFC Bank RD Interest Rates 2022 Table

Below are HDFC recurring deposit interest rates in tabular form:

S.No Tenure RD Rates For Senior Citizens RD Rates For General Citizens Interest rate For NRI Customers
1 Six Months 4.00% 3.50% NA
2 Nine Months 4.90% 4.40% NA
3 Twelve Months 5.40% 4.90% 5.00%
4 Fifteen Months 5.50% 5.00% 5.00%
5 Twenty-Four Months 5.50% 5.00% 5.00%
6 Twenty-Seven Months 5.65% 5.15% 5.20%
7 Thirty-Six Months 5.65% 5.15% 5.20%
8 Thirty-Nine Months 5.86% 5.35% 5.45%
9 Forty-Eight Months 5.85% 5.35% 5.45%
10 Sixty Months 5.80% 5.30% 5.455
11 Ninety Months 6.00% 5.50% 5.60%
12 One twenty Months 6.00% 5.50% 5.60%

Disclaimer: RD Interest rates are subject to change with time. Policybazaar does not endorse, rate, or recommend any particular company or product. The investment risk in the investment portfolio is borne by the policyholder. 

Features of HDFC Recurring Deposit Account

  • The minimum amount required to open an RD account in HDFC is only Rs.1000, while the maximum amount can be up to Rs.1,99,99,900.

  • HDFC RD rates for small investments are equal to that of fixed deposit rates.

  • The minimum tenure of RD is about two months and the maximum tenure is ten years.

  • In the case of NRIs, the minimum tenure is twelve months.

  • Once the monthly installment amount is fixed, it cannot be changed during maturity.

  • If there are six consecutive delays on the payment by the same individual, then the bank has the right to cancel that account.

  • Partial payments of installments are not acceptable for recurring deposits.

Calculation of Maturity

The maturity amount of an HDFC RD account can be calculated using the formula given below:

A= P*(1+R/N)^(Nt) 


P = principal deposited 

R = rate of interest 

N = tenure (in months)

t = applicable tenure

You can also use a recurring deposit calculator to calculate the maturity of your sum. An RD calculator is easy to use, saves time, and gives accurate results.

Types of HDFC RD Schemes

The bank offers the following recurring deposit schemes

  • Regular Recurring Deposit 

  • NRE Recurring Deposit

  • HDFC Dream Deposit 

How to Open a Recurring Deposit with HDFC?

There are two ways to open RD in HDFC bank:

Offline: You can easily open an RD account by visiting a local HDFC branch with the required documents. A representative from the bank will guide you through the process and help you to open an RD account. If you do not have an account in the bank, you will need to open one. After it's done, you can open an RD account.

Online: Through Net banking

If you want to open an RD account but don't want to visit the local branch, then you can open one online through net banking. Remember that you can only open an RD account if you own an account in that specific bank.

Follow the steps listed below to open an HDFC RD online:

  • First, visit the official HDFC Bank website.

  • Then, click on login, net banking, and fill in your credentials.

  • Now, open the menu and click on "Open Recurring Account."

  • A form will pop up, and you will need to carefully fill in all the details.

  • After all, is done, click on continue. By following these steps, you can easily open an RD account.


Only the applicants mentioned below are eligible for opening an RD in HDFC bank:

  • Resident individuals

  • Trusts and Societies

  • HUFs (Hindu Undivided Families)

  • Private and Public Limited Companies

Documents Required

The following list of documents is required to open an RD in HDFC:

  • An application form

  • Proof of residence 

  • Any KYC documents as required by the bank

  • Passport size photograph

  • HUF declaration and KYC

Premature Withdrawal of RD In HDFC 

The bank allows premature withdrawal but in return, it charges 1% of the deposited amount as a penalty. If the lock-in period is not met, no interest will be paid on the deposited amount. Another thing that you should keep in mind is that the bank does not allow partial withdrawal.

Benefits of Opening HDFC RD Account

  • The HDFC recurring deposit interest rates are the same as the fixed deposit rates.

  • A lock-in period is only one month from the account opening date.

  • A nomination facility is also offered.

  • Under the Dream Deposit plan, no penalty is charged upon premature withdrawal. 

  • Opening an RD account only requires a minimum of Rs.1000, which is pocket friendly.

  • Flexible tenure period, which can range from a few months to years.


  • What is the minimum tenure of RD for NRI customers in HDFC Bank?

    Ans. The minimum tenure of RD for NRI Customers in HDFC Bank is twelve months.
  • Is there any lock-in period for recurring deposit accounts?

    Ans. There is a minimum lock-in period of about one month for an RD account.
  • How much interest is earned in a recurring deposit account?

    Ans. The interest on a recurring depicted account is earned on a balance monthly. The interest rate is between 7% and 9%, and typically, the interest rate is more for senior citizens than general citizens.

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